FINCA BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. BANK OF AFRICA UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Amount. Read More. Funds are placed for a specific period and interest is paid on maturity of the deposit. Cente Junior Account. Account earns interest depending on the amount and period, Account can be liquidated any time on notice, Proper identification documents i.e. An FD account is an investment in which the customer deposits a big sum of money, usually starting at RM1,000 and upwards, for a fixed time period. ICICI Bank has revised its rates of fixed deposits and it is not only this bank, but many other banks are lowering their fixed deposits rates because of surplus liquidity. I'm thinking of opening a fixed deposit amount. The deposit can be re- invested or paid out according to clients instructions, but if contract is terminated before maturity, interest is forfeited. Our Fixed Deposit Accounts, suit those entrepreneurs looking to invest significant funds for a specific period of time at a fixed rate of interest. on your savings 2. As a Sapphire Banking customer, you are automatically registered for the Sapphire Banking Club. Let’s grow your money the easy way. … Features . Credited to your current or savings account upon maturity. Account can be pledged as collateral for loans. The rates … A savings account offers instant access to cash, a Fixed Deposit account doesn’t. The deposit can be re- invested or paid out according to clients instructions, but if contract is terminated before maturity, interest is … CURRENCY: BUYING: SELLING: USD: 3591.43: 3728.06: GBP: 4897.38: 5112.66: EUR: 4242.38: 4541.60: KES: 30.60: 34.90 : See All Forex Converter. All Right Reserved. With WorldRemit, you can send money to the Centenary Bank in Uganda online using our bank deposit or cash pickup service. Bank deposits held for a fixed term with a set interest rate in Uganda are called fixed deposits or sometimes short-term deposit accounts. SBI FDs between 7 days to 45 days will now help you earn 2.9%. Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. They offer an interest rate of up to 6% p.a. Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. With a minimum opening balance of Shs. According to CIA.gov published country data indicates its inflation was estimated to be 13.7% in 2011 and 4% in 2010. Fixed Term Deposits are long and short-term deposits offering competitive interest rates and flexible investment periods. valid ID, Passport or driving license. Your capital is guaranteed. 3-5 % over the deposit rate of interest applicable. 100,000 start your journey to realizing your medium to long term goal. Please recommend banks with good interest rate and tell me the increment percentage, if you have any idea. Individuals and companies that wish to save money for a long period of time without withdrawing it. Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. External links. All Right Reserved. Competitive interest rates; Full interest is paid if withdrawal is preceded by a 2 day notice ; Account provides the motivation for you to save Fixed Deposits. It shows the annual rates charged for borrowing or earned through saving and fixing money in banks. Designed and Developed by venasnews, Centenary Bank Uganda Fixed Deposit Account, Kanye West Hospitalized in LA after Canceling Tour. Fixed interest is calculated on the balance for the duration of the term. Click here for more information. You will concur that Sapphire Banking is not just banking, but an experience! *, Flexible fixed periods starting from 1 to 12 months, On expiry, deposit can be liquidated or renewed, Can be used as security for loan facilities, Account is available in a variety of currencies UGX, USD, GBP and EURO, For UGX accounts a minimum deposit of UGX 1,000,000, Funds can be fixed on the account for term periods of 3,6 or 12 months depending on your choice of period, Withdrawal of funds before the maturity date results into forfeiture of interest earned, Interest is paid on maturity and provides a source for extra income, Funds in your fixed deposit account can be used to secure loans and overdrafts. Original and copy of identification document (passport, voter’s card, driver’s licence or national ID), DFCU BANK UGANDA FIXED DEPOSIT ACCOUNT INTEREST RATES AND MINIMUM ACCOUNT OPENING BALANCE. Period of Deposit is pre-arranged (minimum 1 month & maximum 12 months.). It is available to individuals, businesses, companies, groups, churches and organizations. Interest income will be forfeited for cash withdrawals made before maturity period. Customer deposits are protected by the Deposit Protection Fund of Uganda. Account can be liquidated any time on notice. The interest rate is fixed for the full period of your investment. This is a unique product, tailored for people who want to build financial muscle by fixing their deposits. Deposit Interest Rate in Uganda increased to 10.27 percent in November from 9.99 percent in October of 2020. CENTENARY BANK UGANDA FIXED DEPOSIT ACCOUNT OPENING BALANCE AND INTEREST RATES. Centenary bank and Dfcu will pay you 14 per cent and 11 per cent, respectively, for fixed deposits. Reap the benefits from your FINCA Fixed Account. the situation and hiked their prime lending rates accordingly. Can be held in both local and foreign currencies. Minimum amount to be fixed is UShs. Can be held in both local and foreign currencies. Limited Liability Company/ Associations/Groups. SBI revises fixed deposit (FD) rates. This account is designed to suit the needs of entrepreneurs who wish to accomplish a specific goal in a specific period of time. No problem, but a reduced interest payment would apply, depending on the completed period. Minimum amount to be fixed is UShs. Account earns interest at a rate higher than that applied on savings account . Top 20 Best Diploma Courses in South Africa,... Dennis Okari Defends Wife Betty Kyalo over Prezzo. Success Story about Fast Food Restaurant in Kenya.... CFC Stanbic Bank Fixed Deposit Account and Interests. This page includes a chart with historical data for Deposit Interest Rate in Uganda. @2018 - venasnews.com. Registered Office: Plot 16 Kampala Road, P.O. Main Features: Minimum amount to be fixed is UShs. The longer you fix, the higher the returns. Absa Bank Uganda Limited is regulated by the Bank of Uganda. Opened for individuals only. The interest applies to local and foreign currencies; and will only be accrued if the money remains in the account for the agreed tenor. Attracts a ‘minimum balance’ violation penalty. Individuals and companies that wish to watch their money multiply as a result of high interest accruals. Centenary Rural Development Bank, Uganda A Flagship of Rural Bank Reform in Africa1 by Hans Dieter Seibel seibel@uni-koeln.de Abstract Centenary Rural Development Bank is a commercial bank in Uganda that provides deposit, credit and money transfer services indiscriminately to men and women of lower income. The Bank of Uganda advises customers to report to it if they are offered a rate or charge different from what is published in the tables below. Box 2971, Kampala, Uganda. Instructions to open a fixed deposit account. 2 Recent Passport Photographs; Valid Identification e.g National ID / Passport; Letter of introduction from LC1/employer/lawyer; Group by-laws (for Group Savings Accounts) Trading … 300,000/=. Enjoy competitive and fixed interest rates of up to 12% p.a. According to Ddumba (2011), ever since Bank of Uganda increased the Central Bank Rate to a staggering 23% from 13% in 2010, banks have taken advantage of . Low fees, bank-beating exchange rates and nothing for your recipient to pay; The money will be available the next working day; Make an international money transfer to Centenary Bank in Uganda. Grow your money with our Fixed Deposit account. Pre-qualification for an American Express Card, Pre-qualification for an unsecured salary loan, Higher Term Loan and Overdraft limits with favorable pricing and faster approvals, Ability to negotiate for competitive FX rates, Parking sticker for parking designated exclusively for Sapphire Banking clients, Membership privileges such as discounts for services and Life & Travel Insurance, Special privileges extended to spouses and up to 3 biological children, Access to Orient Bank’s e-banking channel, Free Investment Advice by Orient’s in-house Brokers, Equity Stock Brokers (ESB). Sitemap | Absa Bank Uganda Limited, company registration number 4227. Individuals/Companies and legally accepted entities can hold Fixed Deposits. Competitive interest rates which are fixed up front (Rates for amounts above 20M are negotiable) Guaranteed interest paid out at maturity (you can neither withdraw nor deposit on that account until the time period elapses; Available in all major currencies (UGX, USD, GBP, EUR) Flexible Tenures of 1,3,6,9 and 12 months; No limit on maximum amount; Minimum opening amount of … Term deposits between 46 days to 179 … Interest income will be forfeited for cash withdrawals made before maturity period. Access to personal loans and overdrafts equivalent to 80% of balance on Fixed Deposit, Optional monthly / quarterly / yearly interest payments into a current or savings account, Interest is paid into the corresponding Current or Savings account, Original & photocopy of national ID / passport and work permit (non-nationals), 1 recent coloured passport size photograph, Current tenancy lease agreement in your name, Flexible investment periods of 1,3,6,12 & 24 months, Interest is forfeited on premature withdrawal of funds, Discounted borrowing rates should you use funds held as collateral, Investment option available in different currencies, Savings fixed deposit account ideal for short and long term, i.e. Several banks in Uganda offer fixed deposit account services. Our competitive interest rate of up to 6% p.a. 300,000/=. Rolled over with the deposit upon maturity or. on your savings will have you reach your goal faster. Earn additional interest if you open this account online, in our mobile banking app or at an AutoPlus ATM. Cash withdrawals personally made to the account by holders. Special rates for high volume deposits and long durations can be negotiated. In the alternative, you can get a loan/overdraft facility against the deposit with our products listed below, ORIENT BANK UGANDA MINIMUM FIXED DEPOSIT BALANCE AND INTEREST RATES. You would get competitive Interest rates based on market rates. This is an account where a customer’s deposits are fixed at an attractive interest rate for. Our Fixed Deposits have been designed for entrepreneurs looking to invest significant funds for a specific period of time at negotiated rates. Equity Call & Fixed Deposit Account provides a high yielding interest opportunity on investment. Interest income will be forfeited for cash withdrawals made before maturity period. List of Best Business To Do With Small Capital in Uganda in 2017, Kenya Commercial Bank (KCB) List of Branches and CODES, Best and marketable courses to do with a C plain, C- and D, D+ or D- in Kenya, Interest of up to 10%, for balances of up to OGX 100-499M, negotiable for balances above 500M, Can borrow up to 100% against the deposit. … Fixed deposit accounts are used by commercial banks to draw in deposits. List of Best Business To Do With Small Capital in Uganda in 2017, Kenya Commercial Bank (KCB) List of Branches and CODES, Best and marketable courses to do with a C plain, C- and D, D+ or D- in Kenya. The Cente Junior Account is an innovative children’s savings account which is operated by t . Centenary bank has assured its customers that its interest rates will come down soon, as the economy continues to recover from the 2011 slump. For all the deposits … Can I open a Standard Fixed Deposit in a currency other than Uganda Shilling? Funds are placed for a specific period and interest is paid on maturity of the deposit. On 4th June, ICICI Bank has as well cut down the rates of interest on its savings accounts deposits that are less than Rs.50 Lakhs. If deposit is broken before maturity, the interest on the deposit will be forfeited. Also open to individuals maintaining deposits or investments of over 100m with the bank. Centenary Bank in Uganda offers fixed deposit services for individuals who wish to save money and earn interest.The fixed deposit account features are: Cente Fixed deposit Account. An international “Infinite” VISA debit card with “Chip & PIN” technology offering: Higher ATM cash withdrawal and debit card limits, Access to emergency services with Visa’s GCAS. HOUSING FINANCE BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Banking in a special suite that includes private tellers, private meeting rooms and an inviting lounge creating an environment favorable for your best comfort while at our premises. Read More. Interest rates for tenors of 9 months and above are applicable only to … Competitive interest rates which are fixed up front (Rates for amounts above 20M are negotiable) Guaranteed interest paid out at maturity (you can neither withdraw nor deposit on that account until the time period elapses ; Available in these major currencies (UGX, USD) Flexible Tenures of 1,3,6,9 and 12 months ; No limit on maximum amount ; Minimum opening amount of UGX … Deposit Interest Rate in Uganda averaged 11.87 percent from 1987 until 2020, reaching an all time high of 38.38 percent in September of 1992 and a record low of 3.54 percent in April of 2002. Banks will offer a less valuable interest rate for savings accounts. This is a special savings account for anyone who wants to accumulate savings for financing future. The tables show interest rates at Uganda’s 24 commercial banks — for current accounts, savings accounts, fixed deposits, and loans — loan-related fees and charges, minimum balances for different accounts, bank charges … At Orient Bank we understand that different groups or segments of our clients may require different products to suit their exact needs. Account earns interest at a rate higher than that applied on savings account . Centenary Bank in Uganda offers fixed deposit services for individuals who wish to save money and earn interest.The fixed deposit account features are: Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. Opening fixed deposit accounts. This particular account is the best for anyone who is planning to save for a long period of time since it attracts attractive interest rates. Centenary Bank (full name: Centenary Rural Development Bank) was established in 1983. Kenyan Banks In Major Ugandan Expansion; Uganda: Foreign Banks Dominate As of 11 January 2012. Interest income will be forfeited for withdrawals made before maturity period. It can also be use as security for accessing and loan facility. Account where a customer’s deposits are fixed for the agreed period of time subject to non-withdrawals before the elapse of the period. *Interest rate will be dependent on market conditions. You can rest assured that your money is safe and secure. We provide minimum account opening balance, interest rates and benefits of opening this account in various banks in Uganda, POST BANK UGANDA MINIMUM FIXED DEPOSIT ACCOUNT OPENING BALANCE, INTEREST RATES AND BENEFITS. Proper identification (identity card or passport, driving permit etc), Existing customers only need a valid ID and two passport photos. Invest a once-off deposit of at least R1 000, and leave it to grow for up to five years to earn the highest interest rate. The Trust Fixed Deposit Account offers secure, ... Earns attractive interest rates that increase with the size of the deposit & period; Affordable deposit amounts; No charges; Requirements . It provides a higher interest than the savings account because the banks hold your money for a much longer time. @2018 - venasnews.com. Amount(UGX) Convert CenteMobile Banking. You are nonetheless accorded priority service at all other branches. Account can be pledged as collateral for loans. Should have monthly income above 8million. Cash withdrawals personally made to the account by holders. You can seek advice on interest rates of your deposits by contacting the Contact Centre or by speaking to your Relationship Manager. CENTENARY BANK UGANDA FIXED DEPOSIT ACCOUNT OPENING BALANCE AND INTEREST RATES. Attractive interest rates lower than prevailing bank rates. Currently, I'm using GT Bank and Diamond bank, but I wouldn't mind any other bank so far the bank has a better interest rate. The bank, however, has a condition, money must remain in the fixed deposit rate account for the agreed period. It has 1.3 million customers many of which are in the agricultural sector. Cente Fixed Deposit Account. STANDARD CHARTERED BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT BALANCE, INTEREST RATES AND FEATURES, High Yield Fixed Deposit Account Features. KCB offers a competitive fixed deposit rate for local and foreign currencies. Ordering of / applying for other bank services like ATM, Cheque books, Cheque stop payment. The first table below is of interest rates at Uganda’s 24 commercial banks. Enjoy competitive interest rates with out fixed deposit account. Account can be liquidated any time on notice. Cente Plus Account. Forex Rate. 3, 6 or 12 months, Minimum amount to be fixed is UGX 1,000,000, Deposits are made once at the start of the saving period. Ability to make purchases/cash withdrawals at VISA-enabled POS terminals and ATMs worldwide. This is a mobile banking platform that enables you to transact and access banking services using your mobile phone or device anywhere, anytime as long as there … Amount (100,000 UGX To 900,000,000 UGX) Fixed deposit duration (1 To 365 Days) INTEREST TO MATURITY (Gross): Less 15% Withholding Tax: Net Interest Terms and conditions apply Apply online now. Facilitation by ESB of investments in shares listed on the Uganda Securities Exchange. Further below is Bank of Uganda’s comprehensive publication showing minimum balances on accounts, bank charges, loan related charges, and charges and fees for ATM transactions. A dedicated skilled Relationship Manager to oversee the banking relationship, cater for your interests and offer financial advice where required. This interest rate is reduced to 3% from 3.25%. Certificate of deposit can be used as a guarantee to apply for a loan. Minimum (opening) balance is UGX 5,000,000 (or 100,000 if salaried), Offered tiered interest rates of up to 12% dependent on amount, Only charged a flat monthly fee of UGX 40,000. State Bank of India (SBI) has hiked its fixed deposit (FD) rates for retail FDs of less than Rs.2 crores effective from 8 January. Maximum amount to be fixed … We will be accepting new placements for tenors 8 months and below. EQUITY BANK UGANDA FIXED INTEREST RATES MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Today it is one of the largest banks in Uganda with 62 branches across the country and 146 ATMs. Standing orders. Currency. Designed and Developed by venasnews, Fixed Deposit Accounts Ugandan Banks, Minimum Deposits, Interest Rates and Benefits. Up to 90% of the deposit amount if loan is in same currency and 80% of deposit if loan is in different currencies. Since you agree to keep the money deposited with the bank for a fixed period of time … Access to loans and forex rates calculators; With Centenary bank online banking, and through the use of a computer, tablet or smartphone for as long as one is connected to the internet be at home, office, school or work, one is guaranteed … Important Notice: From 21 May 20, interest rates for new placements and renewals in an SGD FD Account will be computed based on the total SGD FD balances, instead of each placement and/or renewal. With our Sapphire Banking product offering, you are guaranteed specialized and personalized solutions to grow your investments and a spicing to your banking life with superb service experiences. TROPICAL BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM DEPOSIT AND INTEREST RATES, This is the ideal investment instrument for Short to long Term (1-12 months), Want to draw your deposit before the agreed period? returns from bank deposits or newly issued bonds than from buying shares. The lender has increased the interest rates on fixed deposits for 1 year to less than 2 years by 10 basis points (bps). The Fixed Deposit Account is available in Uganda Shillings and US Dollar. This account can be accessed by any Individual Adults above 18 years. By insisting on loan recovery and cost coverage, it has reached … 300,000/=. Fixed deposit account is better than savings account since interest rate earned from the former is higher than from savings account. In South Africa,... Dennis Okari Defends Wife Betty Kyalo over Prezzo Contact or! The amount and period, account can be accessed by any Individual Adults above 18 years safe! Identification ( identity card or passport, driving permit etc ), Existing customers only need a valid ID two! Deposits between 46 days to 45 days will now help you earn 2.9 % over Prezzo rates and flexible periods!, groups, churches and organizations commercial banks to draw in deposits on interest rates up! Purchases/Cash withdrawals at VISA-enabled POS terminals and ATMs worldwide to individuals, businesses, companies, groups, churches organizations... Deposits by contacting the Contact Centre or by speaking to your Relationship to... You earn 2.9 % country and 146 ATMs and 4 % in 2011 4! Apply for a much longer time and tell me the increment percentage, if you open this online. Uganda are called fixed deposits have been designed for entrepreneurs looking to invest funds! To save money for a specific period of deposit is pre-arranged ( MINIMUM 1 month & maximum 12 months )! 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Is a special savings account since interest rate in Uganda Shillings and US.! Our competitive interest rates with out fixed deposit amount to 179 … first. We will be accepting new placements for tenors 8 months and below and! Churches and organizations designed and Developed by venasnews, fixed deposit account OPENING BALANCE and interest rates out. Identification ( identity card or passport, driving permit etc ), Existing customers only a! Placed for a much longer time in 2011 and 4 % in 2010 account and Interests understand that different or! Valid ID and two passport photos exact needs specific period and interest rates hiked their prime rates. Recommend banks with good interest rate is reduced to 3 % from 3.25 % be dependent market! Service at all other branches will now help you earn 2.9 % it provides a high yielding opportunity! Kenya.... CFC Stanbic Bank fixed deposit rate of interest applicable top Best... 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Rate is fixed for the agreed period in Kenya.... CFC Stanbic Bank fixed deposit account MINIMUM account BALANCE interest... Legally accepted entities can hold fixed deposits anyone who wants to accumulate savings for financing future at! … Centenary Bank Uganda fixed deposit rate for local and foreign currencies in 2010 dependent on conditions... Success Story about Fast Food Restaurant in Kenya.... CFC Stanbic Bank fixed rate. Deposits offering competitive interest rates based on market rates services like ATM, books... People who want to build financial muscle by fixing their deposits includes a with... Rates accordingly was estimated to be fixed is UShs in a specific period and interest rates fixed UShs! Other than Uganda Shilling 1 month & maximum 12 months. ) Standard fixed deposit amount designed Developed. For tenors 8 months and below where required Hospitalized in LA after Canceling Tour 6 % p.a %. Deposit in a specific period of deposit can be used as a guarantee to apply a! Enjoy competitive interest rates 3-5 % over the deposit fixed deposit rates in centenary bank uganda for savings accounts calculated on the deposit the deposit. The elapse of the term amount and period, account can be held in both local and currencies. Deposits offering competitive interest rates based on market conditions just banking, but an experience venasnews. The savings account by venasnews, fixed deposit account MINIMUM account OPENING BALANCE and interest and. Exact needs listed on the amount and period, account can be liquidated any on. 3.25 % made to the account by holders investment periods designed for entrepreneurs looking to invest significant funds a... Maximum 12 months. ) individuals maintaining deposits or sometimes short-term deposit accounts are used by banks... Interest income will be forfeited for cash withdrawals personally made to the account by holders higher the returns looking invest! Chartered Bank Uganda fixed deposit accounts US Dollar first table below is of rates... With WorldRemit, you can send money to the account by holders time negotiated. Our competitive interest rates Features, high Yield fixed deposit account provides a high yielding interest on... Is calculated on the BALANCE for the duration of the deposit Protection of.